Search results for: Economy

New money laundering rules define working areas of investigators

Doulot Akter Mala 2019-02-18 10:28:06

The Ministry of Finance (MoF) has issued the long-awaited rules of the Money Laundering Prevention Act 2012 by defining working areas of the investigators. Six government entities empowered to prob...

Post-LDC challenge lies in incentivising exports

Jasim Uddin Haroon 2019-02-17 09:40:12

Bangladesh in all likelihood would face challenges in relation to its export trade, once it shakes off its least developed country (LDC) status. The existing incentive regime will no more remain vali...

BIDA for reform of 'fiscal depreciation' provision in tax law

Doulot Akter Mala 2019-02-17 09:34:56

The Bangladesh Investment Development Authority (BIDA) has recently suggested updating of the fiscal depreciation, as mentioned in the third schedule of the income tax ordinance. During a meeting wit...

Employment rate in BD exceeds global average: ILO

-- 2019-02-15 21:55:34

International Labour Organisation (ILO) has said the employment rate in Bangladesh and other countries in the region exceeded the global average and was expected to remain so in the coming years in vi...

Trade tariffs cost US businesses $2.7b in Nov

-- 2019-02-15 12:00:28

US businesses paid an additional 2.7 billion US dollars in tariffs in November 2018, according to data released Thursday. This is the most recent monthly data available due to the 35-day partial go...

Incentive pays off as exports to new mkts on upswing

Jasim Uddin Haroon 2019-02-15 09:49:41

The government's efforts to incentivise the exporters reaching out to new markets beyond the traditional export destinations are paying off, people familiar with the matter have told the FE. The proc...

French jobless rate falls to near 10-year low

-- 2019-02-14 14:09:59

France’s unemployment rate fell unexpectedly at the end of last year to its lowest level since the start of 2009, data published by the INSEE national statistics office on Thursday showed. The...

NBR plans 32 more tax zones across Bangladesh

-- 2019-02-14 11:34:24

The government has decided to establish 32 more tax zones across the country to bring more taxpayers in the tax net for improving the revenue collection to comply with the increasing target of tax col...

Export performance of many sectors falls short of expectations

Jasim Uddin Haroon 2019-02-14 09:39:11

Exports from many sectors in the economy either took slow lane of growth or swung between their highs and lows despite subsidies doled out over the years. The sectors putting on this lacklustre show...

BB warns of fraud in Fintech services

Siddique Islam 2019-02-14 09:24:22

Bangladesh's payment service providers will have to take prompt remedial measures against frauds and forgery for ensuring public confidence in the financial system, the central bank has said. Cross...

US public debt reaches record high

-- 2019-02-13 20:58:48

The US public debt has reached a record high of more than 22 trillion US dollars, according to data released by the US Treasury Department. Total outstanding public debt stands at $22.01 trillion as...

Bangladesh, UAE to sign two agreements

-- 2019-02-13 16:46:24

Bangladesh and the United Arab Emirates (UAE) will sign two investment-related deals during Prime Minister Sheikh Hasina’s three-day visit to the Middle Eastern nation, starting on Feb 17. &ldq...

Singapore retail sales decline 6pc in Dec 2018

-- 2019-02-12 15:46:51

Singapore's retail sales decreased by 6.0 per cent year on year (y/y) in December 2018, compared to a 2.4 per cent decrease in November, the Department of Statistics of Singapore said Tuesday. The re...

Proposed KEZ set to get licence

Saif Uddin 2019-02-12 10:37:15

The proposed Kishoreganj Economic Zone (KEZ), a venture of Nitol Niloy Group, is set to obtain licence from the authorities concerned, officials related with the development have said. The zone wou...

Malaysia's IPI increases 3.1pc y/y in 2018

-- 2019-02-11 16:54:02

Malaysia's Industrial Production Index (IPI) increased 3.1 per cent year-on-year (y/y) in 2018, supported by the expansion of manufacturing and electricity sector, official statistics showed on Monday...

VAT collection hits record high at DITF

-- 2019-02-10 19:44:34

In the month-long Dhaka International Trade Fair (DITF), a record amount of Tk 70 million was collected as value added tax (VAT). The DITF ended on Saturday which witnessed an average VAT collection...

IMF team to visit Sri Lanka February 15

-- 2019-02-09 13:04:15

Representatives of the International Monetary Fund (IMF) will visit Sri Lanka in next week to discuss the granting of 1.5 billion US dollar fund facility that was postponed due to the political crisis...

Savers walk a tightrope as NSC sales go online

Arafat Ara 2019-02-09 10:55:15

Many savers find themselves in a difficult situation while purchasing national savings certificates (NSCs) via the newly-introduced online database system. Since many of them are not familiar with...

SoEs get bounty amid worries over default

Jasim Uddin Haroon 2019-02-09 10:20:08

The pace of converting debts of state firms into equity picked up after the government implemented its new pay scale in 2015, officials said. So far, the government has converted over Tk 65 billion...

China's PPP projects drive $2t investment in 2018

-- 2019-02-08 14:54:51

China’s public-private partnership (PPP) projects drove13.2 trillion yuan (about 2 trillion US dollars) investment by the end of 2018, an official data showed. According to the China Public Pri...

PC under stress to add fresh projects to RADP

FHM Humayan Kabir 2019-02-08 11:11:38

The Planning Commission (PC) is being pressurised to include fresh unapproved projects in the upcoming revised annual development porgrmmme (RADP) for the current fiscal year (FY), 2018-19, defying th...

RBI reduces repo rate by 25 points

-- 2019-02-07 16:12:37

The Reserve Bank of India (RBI) has reduced the repo rate, or the interest rate at which it lends money to banks, by a marginal 25 basis points. The new repo rate now stands at 6.25 per cent from the...

BD trade deficit in H1 narrows slightly

-- 2019-02-07 13:57:39

Bangladesh's trade deficit narrowed slightly in the first half (H1) of the current 2018-19 fiscal year (July 2018-June 2019) on the back of an increase in exports, said a central bank official on Wedn...

New Zealand's unemployment rate jumps to 4.3pc

-- 2019-02-07 13:36:15

New Zealand's unemployment rate rose to 4.3 per cent in the December 2018 quarter, up from 4.0 per cent last quarter, the country's statistics department Stats NZ said on Thursday. The unemployment r...

Trump nominates WB critic to take its helm

-- 2019-02-07 10:57:36

US President Donald Trump said on Wednesday that the World Bank Group should be led by US Treasury official David Malpass, a Trump loyalist and critic of multilateral institutions who has vowed to pur...

BD received $28b foreign investments in five years

-- 2019-02-06 20:55:56

Bangladesh received more than $28 billion in investment from 45 countries in the last five years with China investing the highest amount of $8107 million. Foreign Minister Dr AK Abdul Momen revealed...

Export earnings register 13.39pc growth in July-Jan period

-- 2019-02-06 20:25:49

The country’s export earnings maintained its positive trend with a healthy 13.39 per cent growth during the first seven months of the current fiscal year (FY19) totalling $24,179.59 million. Th...

Poland mulls investing $1.0b in mining sector

-- 2019-02-06 16:49:55

Poland’s first Deputy Minister of Energy Grzegorz Tobiszowski on Wednesday said the Polish government is ready to invest US$ 1.0 billion in Bangladesh, mainly in mining sector including coal min...

ADB approves $50m loan for microenterprise dev

-- 2019-02-06 16:06:20

The government and the Asian Development Bank (ADB) have signed an agreement for $50million in loan to promote microenterprise development for inclusive economic growth and poverty reduction. The ass...

Debt cancellation unit mandatory to recover write-off loans: BB

FE Online Report 2019-02-06 14:25:14

All scheduled banks in the country have to create a separate debt cancellation unit to recover write-off loans. Bangladesh Bank has issued the instruction today (Wednesday) in its latest circular on...